The weekly register. [volume] (Point Pleasant, Va. [W. Va.]) 1862-1909, 1887-12-14
The MESSAGE.

Pats. ssno say mat l'y Next
June There VIII BE ons Hundred and
Forty million Doifnrs I'd the rreasurv.
To the Congress. of the sIfr,,,sd st.,o,-
You ar. confronted A. IN. thresbo,d Of
your legislative duties. with a condition M
the National finansas ,vh;ch ;,n.,.-.,,,aI,,
,i.,,.,,.,.
'..'- u " a.
sss 1s.ioeus Oh money annuaily e1-
eSss1 t1rOusn tne operation OF present law,
Atom the industries and necessities OF the
people largely exceeds the sums necessary
to meet the expenses OF the government
yyha, We consular chat tha thao,v NJ on-
t,,s,i.,,,;. =. ,,;.,.s., ~.
-, :,
Aui. On 4nehs VI .is II ui's VI ms inhustry
and enterprise Win only such deduction as
may be his share towards the careful and
economical maintenance OF the government
which protects him. it Is plain that the ex-
action of mira thar, this Is in,IisnensabIe ak
go, -, :. ,,,,I,,.t,i. $780,, "a
- -. -. -. 80 =.
en-. is.Aili mes anu Iisste An tn
n:cteo upon enose VINO Dear 1ne oaroen OF
National taxation. like other wrongs, null
tiphes brood of evil consequences.
The public treasury which should only
exist as conduit, conveying the people,s
krihuta u, ITS leo-itinna.l oI,iacrS Of axoan,i;
tnre becomes q bc,r,iins rIsca for ,,,o,,e,
,,o.1,.,-,,, 80
eA.-4 w "olA Si@@s eu'. b"e
PeoPies use. 1hns cripp'lng our Nauonai
energies suspenil1ng gNr countrXs develop
ment, preventing Investment in productive
enterprise, Threatening hnnHcial disturb
lnce and inviting schemes of public
y,Innder. This condition of our treasury II
net altogether new; aud it has more than
once Of late been subm tied to the poop .e,s
REPRESENTATIVES in the congress. who alone
still continues, with aggravated incidents
more than ever, preSaging financial con-
vu.sion and Widespread disaster. 1t viii
not do to neglect this situation because it's
dangers are not palpably imminent
and apparent Tney exist none the les.
certainly, and await the Unforeseen and un-
expected occasion when suddenly they will
be precipitstsd upon US
On the SJth day OF June. 1885, the excess
Of revenues over public expenditures after
complying with the annual requirement. OF
the sinking fund az, was $l7. so TSj. AZ;
during the year endsi June 81. 1856. such
excess amounted to go, ft0. 5i5. ~; and dur
ing the year ended juno 81, 1857, it reached
the sum OF S55, 56d. Si9.5+
fund during the three years above specified
amounting In the aggregate 10 Sl33.B5j,
Szn94 and deducted from the surplus as
stated, were made by calling in for that
purpose outstan1 ling three psr-cent bonds
OF the government During the six months
prior TO June 81, 1887, the surplus revenue
bad grown so largely repeated accumula-
tons, and IL was feared thu withdrawal of
this great sum nesded by the people would
50 affect the business OF the country that
the sum OF SI0, S6i, lOJ of such surplus was
applied to the payment OF the principal and
interest OF the three percent bonds still
outstanding and which were then payable
att f1a F,V,tiO NJ
earlous condition OF financial affairs among
the people still nseding relief, Immediately
after the SJth day OF June, 1887. the re-
mainder OF the thrss-per-cent, bombs then
outstanding, amounting with principal and
interest to the sum of $IS, 81 so were
called in and applet to the sinking fund
contributions or the current fiscal year.
NCtwltnStandlnS these Operations of the
treasury department. representatives OF die:
treSs In business circles not only continued
but increased, and absolute poril seemed ut
hand In thess circumstances the co1tribu-
ton to the sinking fund for the current fis-
cGl year WIS ct oEce conplstei by the ex-
penditure OF 81, 65i. 1885 in the purchase
OF government bombs, not yet due
bearing AMI IL per cant interest
the premium paid thereon averaging about
u per con& for ths formsr. and
FER cont. for the latter. In addition
TO tins tho interest aecruInS during the cur
rent year upon the outstanding bonded in
deotednesS OF the government was to some
extent anticipated, and banks selected rs
repositories OF public money were per
mitted to somewhat increase their de-
Posits-
While tho expeiient thus employed to re-
lease to tbs people the money lying Idle in
the treasury, served TO avert immediate
danger, our surplus revenues have con-
tInued to accumulate, the excess for the
present year amounting on tbs day of
December to 1925, T9l-l9 aud estimated
to reach the sum OF $:Ei. 1.O1O on tbs 3jsh
Of June next. at which date it Is expected
that this sum, ailoi to prior accumula-
tons, will swell the surplus in the treasury
TO lp.OOl,UOn There seams to be no aSsur-
ance that. with such withdrawal from
use of tne peoples circulating medium, our
business community may MT. II the near
which was quite iat.ly producaI Sro,,, t he
same causs. and while tha function. ,f ,,,1
National treasury shonld ta few and .i,,,,,ia
and while its best con,I;tion yvorId ~, ~,
reached. baIieve. b. its entire d,sconnac-
tion with priyata bIzins.s inta-.,sns vot
when nv = pervarSi,,n Of ita nrr1,s,, :,
idlv boli. nonsv ,,seIassIv s,btro,.a, g.,
the channaIs of tra,Ie thar, So. -, ~,
reason for tia claim that soma Is-;t;r,a,e
mean. sbgnI,I he 1I,xsI I,v, tI
to reStor, in an ensr fancy Hvistor,. 80
or axtravagsn,,a snch fno3sv +o IT, 49,
amonp, the ueooIe z f-''